Consumer prices posted the biggest increase in June in five months and are likely to keep the Federal Reserve from cutting interest rates soon, but there only scattered signs of tariff-related inflation.

The June inflation data is likely to keep Federal Reserve officials cautious, open to cutting interest rates later this year without committing to any course of action. The consumer-price index wasn’t

June inflation slowed, the core rate below forecasts. Stocks and bonds saw modest rallies. Click here for a full breakdown of the June report.

Dow falls 300 points, S&P 500 flat and Nasdaq climbs after June CPI report; JPMorgan tops estimates Investors are digesting important inflation data in the U.S

The Canadian dollar edged lower against its U.S. counterpart on Tuesday, but the loonie declined less than the other Group of 10 currencies as domestic inflation data reduced expectations for Bank of Canada interest rate cuts.

Citigroup (C) boosted its full-year net interest income guidance and now sees 2025 revenue at the high end of its previous guidance. The bank posted beats on both Q2 EPS and revenue. Its services business continued to shine, and banking revenue jumped 23% Y/Y.

Services inflation, especially rent and shelter inflation, continued to decline, offsetting rising core goods inflation that may be influenced by tariffs, Steve Hou, a quant researcher at Bloomberg, said in a Tuesday post on X.